What is the name of your state? MA
I am letting someone sublease my apartment for 2 months while I am gone. I am allowing him to not have to pay the security deposit and I will receive that back from the landlord at the end of the 2 months. I want to make it clear that I am not liable for any damages that he causes. Here is the contract I wrote. Can anyone give me advice as to if I should change anything?
I am letting someone sublease my apartment for 2 months while I am gone. I am allowing him to not have to pay the security deposit and I will receive that back from the landlord at the end of the 2 months. I want to make it clear that I am not liable for any damages that he causes. Here is the contract I wrote. Can anyone give me advice as to if I should change anything?
Contract Between __ME__ and _SUB-LEASE_ for Temporary Loan of Security Deposit
July 1st, 2006
I, __ME__, in consideration of having _SUB-LEASE_ sublet __ADDRESS__ (the “Apartment”), on July 1st, 2006, for the months of July 2006, and August 2006, so that I can move into a new apartment before my obligation to above referenced Apartment is completed, agree to leave my $700 security deposit with landlord, __LANDLORD__, so that _SUB-LEASE_ does not have to pay that sum of money to the landlord before he moves in.
I, _SUB-LEASE_, agree to rent the Apartment for the months of July 2006, and August 2006, and further agree to repay the $700 security deposit loan to __ME__ by September 30, 2006.
It is expressly understood that this is not a gift and that _SUB-LEASE_ will pay __ME__ the full $700 by September 30th, 2006, irrespective of any damage that is done by _SUB-LEASE_ requiring the depletion of the security deposit. This means, amongst other things, that, notwithstanding any damage done to the apartment building by _SUB-LEASE_ or his guests that require landlord __LANDLORD__ to use security deposit funds for repairs, _SUB-LEASE_ will nevertheless be obligated to pay the full $700 dollars to __ME__ by September 30th, 2006.
It is additionally agreed to that by virtue of making this loan, __ME__ does not assume or retain any liability or incur any additional obligations whatsoever for _SUB-LEASE_’s tenancy of the Apartment.
Both parties represent that they enter into this contract in good faith, and further represent that they have the legal standing and financial capacity to fulfill the obligations of this contract.
_SUB-LEASE_ additionally represents that at the time this contract was executed, he had inspected the Apartment and did not believe any repairs were necessary or that the use of security deposit funds would be required to cover any damages incurred during the tenancy of __ME__.
__ME__ additionally represents that at the time this contract was executed, he knew of no intention by landlord __LANDLORD__ to use any portion of his security deposit to cover damages done to the Apartment during his tenancy or that landlord __LANDLORD__ would have any colorable right to make such a claim.
This contract is executed in Massachusetts and any legal controversy arising under this contract shall by resolved according the to laws of the Commonwealth of Massachusetts. Both parties agree that Massachusetts shall have jurisdiction to resolve any such disputes.
To the extent that any potion of this contract is found to be unenforceable, it is intended that said portion shall be judicially severed, and that the remaining portions shall be binding upon the parties.
This contract is intended to represent the full intentions and obligations of the parties. No oral agreements regarding these obligations or collateral oral agreements regarding this sub-tenancy will be binding. Any revision to this contract requires the consent of both parties and must be made in writing.
Signed this day, July 1, 2006, by:
_______________________________
__ME__
_______________________________
_SUB-LEASE_